Nigeria’s equities market begins week on bull run

Chiamaka Okechukwu 

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Equities trading on the floor of the Nigeria Exchange Limited, NGX, started this week on positive trajectory on the back of gains from the insurance sector.

This is extension of the gains recorded in the market throughout last week as the All-Share Index of listed equities appreciated further by 214.97 basis points, representing a 0.4 percent increase to close at 54,214.09 higher than the 53,998.12 recorded on Friday.


Similarly, the market capitalisation inched up by N80 billion to close at N29,609 trillion showing a 0.4 percent increase from Friday’s N29,528 trillion.


Monday’s session ended with a total volume of 184,13 million units of shares that exchanged hands in 4,301 deals.


The market sentiment, as measured by market breadth, closed flat with 16 gainers and 16 losers.


Sovereign Trust Insurance Plc came tops on the gainers table with the highest price gain of 19 percent on its shares  to close at N0.33k.


LINKAGE Assurance Plc followed with an 8.89 percent gain on its share price to close at N0.49k while
International Energy Insurance Plc had a 8.08 percent gain on its share price to close at N1.07k.


On the flipside, MCNICHOLS led the losers list with an 8.96 percent loss on its share price to close at N0.61k.


Prestige Assurance Plc followed by with  an 8.70 percent loss to close at N0.42k. Then FTN Cocoa Processors had a 6.06 percent loss to close at N0.31k.


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